#AVX AVAX holding onto this strong UT
A trading idea for the crypto space, to buy AVAXUSDT between $44 and $47, stop loss as a move under $43, with a target of $68.
If buying at current levels you are risking $4 to make potentially $21 so not a bad risk/reward on the trade. March the 5th highs at 44.36 were respected and held on the 5th of April, so i don't really want to see price below there, but i will give it space to 43 just so it doesn't wick us out. There was some decent volume traded under $43 so i think thats fine as a stop loss. On the upside the recent swing high at $50 needs to break which should then bring on some momentum to the upside.
If buying at current levels you are risking $4 to make potentially $21 so not a bad risk/reward on the trade. March the 5th highs at 44.36 were respected and held on the 5th of April, so i don't really want to see price below there, but i will give it space to 43 just so it doesn't wick us out. There was some decent volume traded under $43 so i think thats fine as a stop loss. On the upside the recent swing high at $50 needs to break which should then bring on some momentum to the upside.
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